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HATCHspaces Acquires Office Property In Marina Del Rey For $46.8M

5005 McConnell Avenue
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This Office property located in CA was sold for $46,800,000 about 2 years ago. The brokers of the deal were Michelle Esquivel-Hall, Jeff Pion, Andrew Riley, Greg Grant, Sean Sullivan, Todd Tydlaska, and Michael (Mike) Longo

The recently closed property transaction in Marina del Rey involved the sale of an office asset located at 5005 McConnell Avenue. The property spans approximately 56,300 square feet and was sold for a total of $46,800,000, resulting in a price per square foot of $831. The transaction took place on March 14, 2022.

Summary of transaction details

In this transaction, HATCHspaces, represented by Allan Glass, NexCore Group, and Nuveen Real Estate, acquired the property from Montana Avenue Capital Partners. The deal was facilitated by a team of brokers from CBRE, including Sean Sullivan, Andrew Riley, Mike Longo, Todd Tydlaska, Greg Grant, Jeff Pion, and Michelle Esquivel.

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Deals
  • Location
    5005 Mcconnell Avenue, Los Angeles, California 90066, United States5005 Mcconnell Avenue, Los Angeles, California 90066, United States
  • Sale Price
    $46,800,000$46,800,000
    $831 PPSF$831 PPSF
  • Area
    56,300 SF56,300 SF
  • Asset Type
    OfficeOffice
  • Parties
    7 Brokers, 1 Agency7 Brokers, 1 Agency

Agents

Michelle Esquivel-Hall

Michelle Esquivel-Hall

Deals2
Sold$64.8M

Jeff Pion

Jeff Pion

Deals5
Sold$64.8M

Andrew Riley

Andrew Riley

Deals1
Sold$46.8M

Greg Grant

Greg Grant

Deals5
Financed$347M

Todd Tydlaska

Todd Tydlaska

Deals14
Financed$750.4M

Sean Sullivan

Sean Sullivan

Deals11
Financed$384.5M

Michael (Mike) Longo

Michael (Mike) Longo

Deals14
Financed$685M

Agency

CBRE

CBRE

Agency
Deals4229
Volume$184.3B

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Deal Summary

SALE IMAGE: Mike Longo, Todd Tydlaska, Jeff Pion, Sean Sullivan, Andrew Riley, Michelle Esquivel & Greg Grant DATE: 03/14/2022 ADDRESS: 5005 McConnell Avenue MARKET: Marina del Rey ASSET TYPE: Office BUYER: HATCHspaces - Allan Glass, NexCore Group & Nuveen Real Estate SELLER: Montana Avenue Capital Partners BROKERS: Sean Sullivan, Andrew Riley, Mike Longo, Todd Tydlaska, Greg Grant, Jeff Pion & Michelle Esquivel - CBRE SALE PRICE: $46,800,000 SF: 56,300 ~ PPSF: $831

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5005 McConnell Avenue

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